Bonduelle announces its comeback to the US Private Placement market through the successful refinancing of Ready Pac Foods acq...
06 Juillet 2017 - 5:46PM
BONDUELLE
A French SCA (Partnership Limited by Shares) with
a capital of 56,000,000 EurosHead Office: La Woestyne 59173
Renescure, FranceRegistred under number: 447 250 044
(Dunkerque Commercial and Companies Register)
Villeneuve d'Ascq, France, 6th of July 2017 -
Information Release
Bonduelle announces its comeback to the US
Private Placement market through the successful refinancing of
Ready Pac Foods acquisition.
Bonduelle finalized, under particularly
attractive conditions, the refinancing operations associated with
the acquisition of Ready Pac Foods.
On March 21st, Bonduelle announced that it had
fully completed the acquisition of Ready Pac Foods for a total
amount of $ 409 million.
This operation was financed through a bridge
loan of $ 279 million with an initial term of one year and a $ 130
million amortizing bank loan with a five years maturity.
This operation was carried out jointly with
Crédit Agricole Nord de France and Crédit Agricole CIB.
The successful syndication process with the pool
of existing banks as well as with 3 new foreign banks, together
with the particularly attractive margin conditions have led
Bonduelle to increase the total amount of the bank loan from $ 130
million to $ 200 million.
At the same time, looking for additional
maturity, Bonduelle issued on July 6, 2017, a new Private Placement
in the US market (USPP) split into 2 tranches of respectively € 150
million and $ 50 million. These two tranches both have a maturity
of 10 years and bring the group's total debt average maturity to
almost 5 years.
Bonduelle, being a repeat issuer on the USPP
market since 2000, has been able to deal this private placement
under particularly competitive conditions both in euros and US
dollars, from a pool of historical investors who have renewed its
confidence in the group as well as a new investor.
Bonduelle was advised by BNP Paribas and
Natixis, acting as agents, and Willkie Farr & Gallagher as
counsel.
Through this operation, Bonduelle pursues its
policy of partial disintermediation and diversification of its
financing sources (banks, USPP, EuroPP,...) by further expanding
its platform of both banking and non-bank financial partners,
guaranteeing independence and competitiveness of its
indebtedness' cost, and thus reflects its post Ready Pac Foods
acquisition investment grade profile.
IR Contacts: BONDUELLE - finance@bonduelle.com
Press Contacts / Public relations agency:Benjamin
ZEHNDER - RP carrées - Tel: +33.(0)6.76.41.18.19Email:
benjamin.zehnder@rp-carrees.comVanessa VAZZAZ - RP carrées -
Tel: +33.(0)3.28.52.07.42 / M : +33.(0)6.34.32.24.23 Email:
vanessa.vazzaz@rp-carrees.com
About Bonduelle
Bonduelle, a family business, was established in
1853. Its mission is to be the world reference in "well-living"
through vegetable products. Prioritising innovation and long-term
vision, the group is diversifying its operations and geographical
presence. Its vegetable, grown over more than 130,000 hectares all
over the world, are sold in 100 countries under various brand names
and through various distribution channels and technologies. Expert
in agro-industry with 58 industrial sites or own agricultural
production, Bonduelle produces quality products by selecting the
best crop areas close to its customers.Bonduelle is listed on
Euronext compartment BEuronext indices: CAC MID & SMALL - CAC
ALL TRADABLE - CAC ALL SHARESBonduelle is part of the Gaïa
non-financial performance index and employee shareholder index
(I.A.S.)Code ISIN : FR0000063935 - Code Reuters : BOND.PA - Code
Bloomberg : BON FP
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